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Missing Participants: Best Practices for Defined Benefit and Defined Contribution Plans
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] Link to more items from this source
Jan. 12, 2021

"This document outlines best practices that the fiduciaries of defined benefit and defined contribution plans, such as 401(k) plans, can follow to ensure that plan participants and beneficiaries receive promised benefits when they reach retirement age.... Based on EBSA's experience working with plans, the following practices have proven effective at minimizing and mitigating the problem of missing or nonresponsive participants. [1] Maintaining accurate census information for the plan's participant population.... [2] Implementing effective communication strategies.... [3] Missing participant searches.... [4] Documenting procedures and actions."

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